ISLAMABAD: The government on Tuesday launched the ‘Pakistan Skills Impact Bond (PSIB)’, the first private-capital-funded initiative of its kind in the country.
The bond, with an initial one-billion-rupee pilot tranche, aims to provide innovative funding for Pakistan’s Technical Skills Development Program – a comprehensive effort to equip the nation’s youth with essential skills for the workforce.
The launch ceremony saw the signing of key financing documents, including investor and issuer agreements, and was attended by a diverse group of stakeholders, including senior government officials, development partners, business leaders and international organizations.
Speaking on the occasion, Finance Minister Muhammad Aurangzeb emphasized the transformational role of the PSIB, adding that its success was essential for Pakistan’s economic growth.
“Today, we are not just launching a financial instrument; we are launching a pathway to the future,” he said during his address. “Pakistan’s demographic dividend can only be realized if we are able to reskill and upskill our youth, giving them the tools to contribute meaningfully to the economy.”
